InMed Posts $0.42 Fiscal Q1 Loss Per Share, Forecasts Cash Into Mid-November

InMed Pharmaceuticals posted a net loss of $2,330,778 for its fiscal 2027 first quarter and forecast that available cash would cover planned costs into mid-November, depending on spending and the timing of its proposed merger with Mentari Therapeutics.

For the three months ended Sept. 30, 2026, basic and diluted net loss was $0.42 per share. That total included a $0.36 loss per share from continuing operations and a $0.06 loss from discontinued operations. In the year-earlier quarter, the total loss was $0.44 per share and net loss was $1,726,899.

Research and development costs fell to $206,015 from $575,458 a year earlier. General and administrative costs rose to $1,804,625 from $1,239,058.

At quarter-end, InMed had $1,094,488 in cash and cash equivalents and $40,331 in short-term investments. On June 30, it had $2,194,413 in cash and cash equivalents and $39,670 in short-term investments. The company’s forecast for cash to fund planned operating expenses and capital expenditures into mid-November is conditional on expenditure levels and timing, as well as when the proposed merger closes.

InMed’s annual general and special meeting was scheduled for Wednesday, Nov. 4, at noon ET. Shareholders were set to consider proposals related to the proposed merger, which is tied to Mentari’s migraine-prevention pipeline. Nasdaq accepted InMed’s compliance plan Oct. 30 and gave the company until March 15, 2027, to regain compliance with the exchange’s shareholders’ equity requirement.